MILAN, ITALY and HONG KONG--(Marketwire - March 15, 2010) -
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Distribution agreement signed between the companies for the marketing of lercanidipine tablets in China
Milan and Hong Kong, 15 March 2010 - Lee’s Pharmaceutical Holdings Limited (GEM Stock: 8221: Website: www.leespharm.com) today announced in conjunction with Recordati S.p.A. (RECI.MI, REC IM, ISIN IT0003828271. Website www.recordati.com), a European pharmaceutical group, the execution of a License and Supply Agreement for Recordati’s original product Zanidip® (lercanidipine) in China. The agreement grants Leespharm an exclusive license to market and sell Zanidip® (lercanidipine tablets) for the treatment of hypertension in the People’s Republic of China.
“We are delighted to enter into this partnership with Leespharm for Zanidip®. This represents a new step in our international partnering strategy” said Giovanni Recordati, Chairman and CEO of Recordati. “Leespharm is a highly capable development and commercial organization in China and we look forward to working with Leespharm toward the common goal of enriching the distribution network in Asia for Zanidip® for the benefit of patients with hypertension.”
“We are excited to announce this partnership with Recordati for Zanidip®. In the light of increasing prevalence of hypertension among Chinese, the favorable efficacy and safety profile of lercanidipine could be a preferable choice for antihypertensive treatment across a broad range of patients,” stated Dr. Benjamin Li, the Chief Executive Officer of Leespharm. “China reports more than 200 million patients suffering from hypertension, it is expected that there will be an acceleration of penetration of Zanidip® in China market in the near future.”
About Zanidip® (lercanidipine)
Zanidip® (lercanidipine) belongs to a group of medicines called calcium channel blockers (CCB’s) which is widely prescribed for the treatment of hypertension. Zanidip® (lercanidipine) is a dihydropyridine (DHP) with an intrinsic long-acting hypertensive effect which exhibits a slow onset of action to help avoid reflex tachycardia. It is effective in reducing blood pressure over a 24 hour period with once daily dosing. Lercanidipine is effective across a wide range of patient groups, including the elderly as well as younger patients and diabetic patients with hypertension. It has equivalent antihypertensive efficacy to many other agents and is effective as initial monotherapy or in combination. The efficacy and tolerability profiles of lercanidipine make it a suitable choice for treating hypertension in a wide range of affected patients. Furthermore, lercanidipine causes less peripheral oedema than other CCB’s at equivalent antihypertensive doses.
About Lee’s Pharmaceutical
Lee’s Pharmaceutical Holdings Limited is a public biopharmaceutical company with over 15 years operation in China’s pharmaceutical industry. It is fully integrated with solid infrastructures in drug development, clinical development, regulatory, manufacturing, sales and marketing in China with global perspectives and currently markets six products. Leespharm focuses on several different areas such as cardiovascular and infectious diseases, dermatology, oncology, gynecology and others. It has more than 20 products under different development stages stemming from both internal R&D as well as from the recent acquisition of licensing and distribution rights from various US and European companies. The mission of Lee’s is to become a successful biopharmaceutical group in Asia providing innovative products to fight diseases and improve health and quality of life.
About Recordati
Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271),with a total staff of over 2,950, dedicated to the research, development, manufacturing and marketing of pharmaceuticals. It has headquarters in Milan, Italy, operations in the main European countries, and a growing presence in the new markets of Central and Eastern Europe. A European field force of over 1,450 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases. Recordati’s current and growing coverage of the European pharmaceutical market makes it a partner of choice for new product licenses from companies which do not have European marketing organizations. Recordati is committed to the research and development of new drug entities within the cardiovascular and urogenital therapeutic areas and of treatments for rare diseases. Consolidated revenue for 2009 was ÂEUR 747.5 million, operating income was ÂEUR 162.2 million and net income was ÂEUR 110.6 million.
For further information about Recordati:
Website: www.recordati.com
Investor Relations Media Relations
Marianne Tatschke Claudio Rossetti (Echo Comunicazione d’Impresa)
(39)0248787393 (39)02 62694736
e-mail: inver@recordati.it e-mail: crossetti@echocom.it
For further information about Lee’s Pharmaceutical:
Website: www.leespharm.com
Contact
Vivian Fung
(852)2314-1282
Statements contained in this release, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company’s control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements. All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company’s activities and are not intended to indicate the advisability of administering any product in any particular instance.
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